Agricultural marketing

2. On the Basis of Area/Coverage: 
On the basis of the area from which buyers and sellers usually come for 
transactions, markets may be classified into the following four classes: 
a) Local or Village Markets: A market in which the buying and selling 
activities are confined among the buyers and sellers drawn from the same 
village or nearby villages. The village markets exist mostly for perishable 
commodities in small lots, e.g., local milk market or vegetable market. 
b) Regional Markets: A market in which buyers and sellers for a commodity 
are drawn from a larger area than the local markets. Regional markets in 
India usually exist for food grains. 
c) National Markets: A market in which buyers and sellers are at the national 
level. National markets are found for durable goods like jute and tea. 
d) World Market: A market in which the buyers and sellers are drawn from the 
whole world. These are the biggest markets from the area point of view.
These markets exist in the commodities which have a world-wide demand 
and/or supply, such as coffee, machinery, gold, silver, etc. In recent years 
many countries are moving towards a regime of liberal international trade in 
agricultural products like raw cotton, sugar, rice and wheat.
3. On the Basis of Time Span: 
On this basis, markets are of the following types: 
a) Short -period Markets: The markets which are held only for a few hours are 
called short-period markets. The products dealt within these markets are of 
highly perishable nature, such as fish, fresh vegetables, and liquid milk. In 
these markets, the prices of commodities are governed mainly by the extent of 
demand for, rather than by the supply of, the commodity. 
b) Long-period Markets: These markets are held for a long period than the 
short-period markets. The commodities traded in these markets are less 

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perishable and can be stored for some time; these are food grains and oilseeds.
The prices are governed both by the supply and demand forces. 
c) Secular Markets: These are markets of permanent nature. The commodities 
traded in these markets are durable in nature and can be stored for many years.
Examples are markets for machinery and manufactured goods.